Q. 123.8( 4 Votes )

What is the effect of black money on our economy?

Answer :

The unaccounted money that circulates in the market is referred to as black money.


The effect of black money are:


a. Black money means a substantial loss in revenue for the government.


b. shortage created by black money is resorting by raising more indirect taxes, that increases the burden on middle and poor class people.


c. Black money results in the transfer of funds from India to foreign countries.


d. Black money has also corrupted our political system.


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